Finance, Insurance & Real Estate
BaylorBusiness

Risk Management and Insurance Courses

Undergraduate Courses

FIN 3305 Principles of Risk Management and Insurance
An examination of the techniques for managing pure risks in order to maximize the value of a firm.  The course contrasts the risk preferences of corporations with those of individuals, and explores the implications of differing preferences on insurance purchase decisions.  The characteristics of insurance as a tool in the process of managing both corporate and personal risk exposures are emphasized.

FIN 4310 Fundamentals of Life and Health Insurance
Prerequisite(s): FIN 3305; not open to pre-business students.
A study of the financial implications of death, disability and retirement, as well as the corresponding forms of individual life insurance, health insurance and annuities.  Elementary life and health insurance programming, taxation, legal aspects, business uses of individual life and health insurance, regulation, and insurer operations and functions are covered.

FIN 4320 Fundamentals of Property and Liability Insurance--Fall only
Prerequisite(s): FIN 3305 and FIN 3310; not open to pre-business students.
A study of the property-liability insurance industry, including the economic and financial issues inherent in property-liability insurance markets.  Topics include determinants of insurance costs and prices, effects of the tort system on insurance markets, economics of distribution systems, corporate governance and organizational form, financial pricing models, solvency measurement, solvency regulation and market discipline, reinsurance and catastrophic risk, underwriting and risk selection, rate making techniques, and underwriting cycles.

FIN 4330 Employee Benefit Planning
Prerequisite(s): FIN 3310; not open to pre-business students.
An examination of the rationale for, and basic details of, 1) employer provided group-life and group-health benefits, 2) private pension plans, and 3) government-required benefits, including social security, medicare and medicaid, disability income, and unemployment benefits.  The approach focuses on the economic theory and historical developments of each of these areas.

FIN 4335 Business Risk Management
Prerequisite(s): For RMI majors, FIN 3305 and FIN 3310; for FIN majors, FIN 3310; not open to pre-business students.
This course covers the new and emerging field of integrated, or enterprise, risk management.  Specifically, it examines the use of insurance as well as various financial instruments to control the costs of corporate risk.  Emphasis is placed on the identification, evaluation, and management of corporate risks.  Besides examining traditional hedging strategies, techniques such as leveraging, post-loss financing, contingent financing, and diversification are also considered.

FIN 4V98 Special Studies in Risk Management and Insurance
Prerequisite(s): FIN 3305; not open to pre-business students.
With the permission of the chair of the Department of Finance, Insurance, and Real Estate, this course may be taken for 1 to 6 semester hours of credit.

Graduate Courses

FIN 5330 Seminar in Employee Benefit Planning
The rationale, design, implementation, and evaluation of employee benefit plans.  Emphasis on employer-sponsored plans to provide benefits for death, medical and dental expenses, disability, and retirement; insurance and self-insurance funding arrangements; the taxation of employee benefits; legal requirements; integration with public programs and individually purchased insurance; labor union influences; and contemporary problems and issues.  Consideration of new types of employee benefits, as well as such traditional benefits as paid vacations, sick leave, educational assistance, and other aspects of total compensation.  Case studies are used to illustrate the process of balancing employer objectives, employee needs and desires, and cost considerations.

FIN 5335 Seminar in Business Risk Management
Prerequisite(s): BUS 5602 or equivalent.
A study of business risk management, recognizing the relationship between risk management and the overall goals of the firm, through an integrated approach that combines the concepts and tools from both the insurance and the financial risk management disciplines.  Emphasis is placed on the identification, evaluation, and management of corporate risks, defined broadly to included both operating and financial risks.  Specific topics include traditional hedging strategies as well as techniques such as leveraging, post-loss financing, contingent financing, and diversification.

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